PARVAAH PORTAL (Syllabus: GS Paper 3 – Economy)

Context: The Reserve Bank of India (RBI) recently launched three significant initiatives, including a mobile app, to facilitate retail investor participation in the government securities (G-Secs) market.

Parvaah Portal

• About: The 'PRAVAAH' portal serves as a secure and centralized web-based platform, facilitating individuals and entities to request authorization, licenses, or regulatory approvals from the Reserve Bank.
• Efficiency Enhancement: This is designed to streamline and enhance the efficiency of various processes concerning regulatory approvals and clearances.
• Timeline: These initiatives, including the PRAVAAH portal, were initially disclosed as part of the RBI's bi-monthly Statements on Development and Regulatory Policies. 

oThey were announced in April 2023, April 2024, and December 2023 respectively.

• Retail Direct Mobile App: The Retail Direct Mobile App complements the PRAVAAH portal by providing retail investors easy and convenient access to the Retail Direct platform. It enables seamless transactions in government securities (G-Secs).
• Tracking and Monitoring: Entities utilizing the PRAVAAH portal can efficiently monitor the status of their applications. 

oAdditionally, the Reserve Bank can communicate decisions regarding specified applications in a timely manner, ensuring a streamlined process.

Government Securities Market in India

• About: These are tradeable instruments issued by the Central Government or State Governments, acknowledging their debt obligations.
• Issuance by: In India, the Central Government issues both treasury bills and bonds, while State Governments issue bonds or dated securities known as State Development Loans (SDLs).
• Risk Profile: G-Secs are considered risk-free gilt-edged instruments due to their practically non-existent risk of default.